Eli Lilly and Boehringer Ingelheim launched Basaglar, a biosimilar referencing Sanofi's long-acting insulin drug Lantus, in South Korea on April 13, reported The Investor.
Basaglar is priced at 10 714 Korean won per pen at the top of the insurance coverage ceiling, making it around 14 percent less expensive than Lantus, the news source said.
"When considering one pen, a price difference of just 1500 won seems minor, but for diabetes patients who must receive the injections daily, this price difference can be significant in the long run," remarked Cho Jae-yong, head of the diabetes franchise at Eli Lilly Korea.
In terms of pricing, Basaglar is currently around 20 percent less expensive than Sanofi's next-generation insulin drug Toujeo, and around 97 percent cheaper than Novo Nordisk's Tresiba, the news source added.
Looking ahead, two other biosimilars referencing Lantus are also approaching commercialization in Korea, including one developed by Merck & Co. with partial funding from Samsung Bioepis, and another developed by Biocon.
Merck's Lusduna was approved by European regulators in January and is currently awaiting approval by the FDA. The drug is also under review by the Korean Drug Ministry.
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